Sempra Launches Sustainable Financing Framework Aligned With Company’s ESG Initiatives
Aug. 5, 2021 /PRNewswire/ — Sempra (NYSE: SRE) (BMV: SRE) today published its Sustainable Financing Framework, outlining its criteria and other parameters for any issuances by Sempra, San Diego Gas & Electric Co. (SDG&E) or Southern California Gas Co. (SoCalGas) of sustainable financing instruments, including its intent to allocate net proceeds to finance projects aligned with the company’s environmental, social and governance (ESG) strategy and as specifically described in the framework. Eligible projects include investments in the following categories: clean transportation, climate change adaptation, energy efficiency, clean energy solutions, green buildings, pollution prevention and control, and socio-economic advancement and empowerment.
“At Sempra, we are excited about our role in advancing clean, safe and resilient energy systems for today, and for the future,” said Lisa Alexander, senior vice president of corporate affairs and chief sustainability officer for Sempra. “Across our companies, we are working to capture new opportunities to grow our transmission and distribution business for the betterment of all our stakeholders, with a focus on investments in safety, as well as decarbonization, diversification and digitalization of our energy systems. Our new Sustainable Financing Framework furthers our commitment to meet the evolving needs of our investors, customers and communities.”
Sempra received a second-party opinion from Vigeo Eris (V.E), an independent global provider of ESG research and ratings, for its Sustainable Financing Framework highlighting that it is in alignment with the four components of the 2021 Green Bond Principles and the 2021 Social Bond Principles.
Shaping a Net-Zero Future
The launch of Sempra’s Sustainable Financing Framework builds upon the company’s commitment to creating long-term, sustainable value for shareholders and other stakeholders.
Sempra is advancing the energy transition by enabling the delivery of lower-carbon energy in every market it serves. For two decades, Sempra has been on a sustained path to decarbonize its business operations and the markets it serves with a goal of transitioning to net-zero greenhouse gas (GHG) emissions. Earlier this year, Sempra set a target to reach net-zero GHG emissions across all three scopes by 2050, with an interim target of 50% reduction in its California utilities and Mexico (non-LNG) scopes 1 and 2 emissions by 2030, compared to a 2019 baseline. Sempra’s California utilities, SDG&E and SoCalGas, have also set individual net-zero goals across all three scopes in line with California’s goal to be net-zero economy-wide by 2045. Sempra and its family of companies also have critical goals towards achieving world-class safety, driving resilient operations and championing people. View the 2020 Sustainability Report for more information about the company’s goals, key performance indicators and progress.